Flimsy FCA Claims Doom Omnicare Securities Suit

Law360, New York (March 27, 2013, 9:50 PM EDT) -- A U.S. district court judge for the Eastern District of Kentucky threw out a securities fraud class action against Omnicare Inc. Wednesday that accused executives of making false statements that the company's billing practices complied with regulations despite knowing about internal audits that alleged otherwise.

U.S. District Judge David L. Bunning ruled that it was never sufficiently shown that executives at the nursing home pharmacy giant knew about suspected irregularities alleged to have been found by a former employee when they made statements the company was...
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